THE Gold Coast property market is in for a blooming spring despite the COVID-19 pandemic impacting real estate across the country, according to leading property experts.
Cashed-up interstate buyers are lining up for virtual property tours, while locals are hot on their heels in the hunt for their prized new home.
The Gold Coast property market is in for a blooming spring, according to agents.
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New research from realestate.com.au revealed Queensland property seekers are the most confident in Australia with the Gold Coast suburb of Tugun rated the top suburb for buyers in the state.
Harcourts Coastal Broadbeach director Dane Atherton predicted one of the best spring selling seasons in Gold Coast history.
Harcourts Coastal Broadbeach director Dane Atherton say soaring trading in winter will lead to a continuation of an already extremely active market through spring. Photo: Jerad Williams
“This is a highly unusual market we’re in at the moment as traditionally in terms of turnover, May, June and July is the lowest quarter for Gold Coast property,” Mr Atherton said.
“Agents would be hanging out for that September spring selling season but what’s been amazing is that spring has almost been brought forward.
“We’ve experienced soaring trading in winter and what’s going to happen now is a continuation of an already extremely active market.”
Ray White Real Estate Runaway Bay Group principal Ali Mian says the run of sales throughout winter had created a “frenzied market” going into spring.
Ali Mian, Ray White Runaway Bay Group principal, shared a similar view.
He said the run of sales throughout winter had created a “frenzied market” going into spring.
“The market got a good head start that we don’t normally see,” Mr Mian said.
“Usually winter is quieter for the property market but this year winter has produced some good numbers for us.
“The reason behind that was March and April were quiet so the whole cycle moved.
“A lot of those sellers who sold in winter are now wanting to buy something. It’s almost like a domino effect.”
Buyers are expected to flock to the Coast this spring. Picture: Jerad Williams
He predicted an influx of local buyers as well as house hunters from Brisbane.
“I can’t see any reason why this spring won’t be a good spring for the property market on the Gold Coast,” he said.
Lucy Cole, of her self-titled agency, says the local market will come to the forefront this spring. Photo by Richard Gosling
Lucy Cole, of her self-titled agency, also predicted a rush of local buyers to the market.
“This pandemic has brought to the forefront people who realise they want a sea-change or a country change,” Ms Cole said.
“There’s definitely a change in the spectrum of real estate.
“The interstate market has always been interested in the Gold Coast but I think the local market will really come to the forefront this spring.
“People still want to be here and the southeast Queensland market and in particular the Gold Coast is thriving.”
REIQ Gold Coast zone chair Andrew Henderson says property stock levels were expected to finally increase with a rush of sellers. Picture: Jerad Williams
REIQ Gold Coast zone chair Andrew Henderson predicted sellers would take advantage of the spring selling season.
“Historically, a lot of people see springtime as a good time to go to market,” Mr Henderson said.
“For us it’s probably more of a southern influence as the Gold Coast has got great weather all year round.
“We don’t have that dreary winter weather that prevents people getting out there to buy a property.”
Property stock levels were expected to finally increase with a rush of sellers, he said.
“I think you will see a spike as there hasn’t been a lot of choice for buyers,” Mr Henderson said.
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